Boyle Statement on November Fed Interest Rate Pause

WASHINGTON, D.C. — Today, Pennsylvania Congressman Brendan F. Boyle, Ranking Member of the House Budget Committee, released the following statement after the Federal Open Market Committee (FOMC) announced a continued pause in interest rate increases:

"With inflation down sharply from its peak and a soft landing in sight, the Fed is right to continue the pause in interest rate hikes," said Ranking Member Brendan F. Boyle. "Price growth continues to moderate even as GDP grew by an astounding 4.9 percent last quarter, underscoring the continued strength of our economy and indicating we are tackling inflation without inducing an unnecessary recession. Families across America are benefiting from the 13.9 million new jobs created under President Biden, and the Fed must avoid a costly overcorrection that could threaten this progress."

"While House Democrats are fighting to bring down the cost of living, House Republicans continue to undermine our economy with the threat of cruel budget cuts and a costly government shutdown. After wasting time fighting their civil war instead of working to lower costs, they have chosen to push steep cuts to the programs that help families pay their rent and put food on the table. With just 16 days until yet another potential Republican shutdown, American families and our international allies can't afford any more extremism. House Republicans must start doing their jobs by keeping the government open and delivering the emergency funding we need to lower costs, provide disaster relief, and support our allies around the world."

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